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The Coursebook includes numerous multiple-choice, true/false, and discussion questions to help students self-test their knowledge of each chapter, with answers and short explanations for most questions provided in the back of the Coursebook. Each chapter also contains problem and project exercises designed to improve the student's knowledge of the mechanics.

Preface

p. iii

Making the Grade in Economics

p. vii

The Economic Way of Thinking

The Economic Approach

p. 1

Some Tools of the Economist

p. 11

Markets and Government

Supply, Demand, and the Market Process

p. 25

Supply and Demand: Applications and Extensions

p. 37

Difficult Cases for the Market and the Role of Government

p. 51

The Economics of Collective Decision Making

p. 59

Core Microeconomics

Consumer Choice and Elasticity

p. 67

Costs and the Supply of Goods

p. 79

Price Takers and the Competitive Process

p. 91

Price-Searcher Markets with Low Entry Barriers

p. 105

Price-Searcher Markets with High Entry Barriers

p. 115

The Supply of and Demand for Productive Resources

p. 129

Earnings, Productivity, and the Job Market

p. 139

Investment, the Capital Market, and the Wealth of Nations

p. 147

Income Inequality and Poverty

p. 155

International Economics

Gaining from International Trade

p. 165

Applying the Basics: Special Topics in Economics

Government Spending and Taxation

p. 177

The Internet: How Is It Changing the Economy?

p. 183

The Economics of Social Security

p. 187

The Stock Market: Its Function, Performance, and Potential as an Investment Opportunity